Vancouver to tackle rental affordability

By Steve RandallFont size :

A proposed new plan to tackle affordability of rental units in Vancouver has been highlighted by the city’s mayor.

Gregor Roberston said Sunday that the affordable units would be aimed at those earning $30-80K and could mean that developers of new rental buildings would be required to provide 20% as long-term affordable units.

“Vancouver doesn’t just need supply, it needs the right kind of supply local people on local incomes can afford,” says Mayor Gregor Robertson. "We’re putting a big focus on rental housing and prioritizing innovative ideas like this pilot project that will ramp up the City’s delivery of affordable housing for renters across the spectrum.”

The plan could yield 1,000 new affordable homes in the Oakridge Municipal Town Centre, as part of the more than 4,000 new affordable (and 11,500 overall) homes projected in the Cambie area by 2041.

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